Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Increased by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,643 shares of the network equipment provider's stock after buying an additional 8,487 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Cisco Systems were worth $12,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Mainstream Capital Management LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $132,000. Proficio Capital Partners LLC lifted its holdings in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the period. Investment Management Corp of Ontario lifted its holdings in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares during the period. Aveo Capital Partners LLC lifted its holdings in Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after acquiring an additional 407 shares during the period. Finally, AlTi Global Inc. raised its position in shares of Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after acquiring an additional 6,811 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of several research analyst reports. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.11.

Insider Activity

In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider now directly owns 255,377 shares of the company's stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now directly owns 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,931 shares of company stock valued at $4,671,930. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 2.3%

CSCO traded up $1.47 during midday trading on Monday, hitting $65.56. The company's stock had a trading volume of 5,805,159 shares, compared to its average volume of 20,105,666. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm has a 50-day moving average price of $60.47 and a two-hundred day moving average price of $60.58. The firm has a market cap of $259.62 billion, a P/E ratio of 28.61, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.